1 day Ago By ABMN Staff
EastGroup Properties ( NYSE:EGP – Free Report ) had its target price trimmed by Royal Bank of Canada from $189.00 to $183.00 in a research report sent to investors on Tuesday, Benzinga reports.
The brokerage currently has a sector perform rating on the real estate investment trust’s stock. A number of other brokerages have also issued reports on EGP. Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $174.
00 to $194.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research note on Tuesday, January 14th.
They issued a “buy” rating and a $180.00 price target on the stock. Raymond James set a $190.
00 price target on EastGroup Properties and gave the stock a “strong-buy” rating in a research note on Monday, April 14th. Evercore ISI raised their price target on EastGroup Properties from $179.00 to $180.
00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Finally, StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Sunday.
Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.
63. View Our Latest Stock Report on EastGroup Properties EastGroup Properties Price Performance EastGroup Properties ( NYSE:EGP – Get Free Report ) last announced its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.
12 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.01.
EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%.
The business had revenue of $174.45 million during the quarter, compared to the consensus estimate of $169.67 million.
During the same quarter in the previous year, the business earned $1.98 earnings per share. The business’s revenue for the quarter was up 13.
1% on a year-over-year basis. On average, sell-side analysts expect that EastGroup Properties will post 8.94 earnings per share for the current fiscal year.
EastGroup Properties Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $1.40 per share.
The ex-dividend date was Monday, March 31st. This represents a $5.60 annualized dividend and a yield of 3.
43%. EastGroup Properties’s payout ratio is 122.54%.
Hedge Funds Weigh In On EastGroup Properties Several large investors have recently bought and sold shares of EGP. Cohen & Steers Inc. increased its stake in EastGroup Properties by 141.
6% during the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust’s stock valued at $458,347,000 after buying an additional 1,673,663 shares during the period.
Principal Financial Group Inc. increased its stake in EastGroup Properties by 234.7% during the 1st quarter.
Principal Financial Group Inc. now owns 1,222,064 shares of the real estate investment trust’s stock valued at $215,267,000 after buying an additional 856,971 shares during the period. Raymond James Financial Inc.
acquired a new position in EastGroup Properties during the 4th quarter valued at about $116,756,000. Norges Bank acquired a new position in EastGroup Properties during the 4th quarter valued at about $100,579,000. Finally, Daiwa Securities Group Inc.
increased its stake in EastGroup Properties by 210.6% during the 4th quarter. Daiwa Securities Group Inc.
now owns 707,732 shares of the real estate investment trust’s stock valued at $113,584,000 after buying an additional 479,873 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.
About EastGroup Properties ( Get Free Report ) EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina. Recommended Stories Receive News & Ratings for EastGroup Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EastGroup Properties and related companies with MarketBeat.com's FREE daily email newsletter .
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